Today's income-hungry investors and savers are drastically short of options if they look to the mainstream market. Some £1.4 trillion is currently wasting away on cash deposit earning an average of less than 0.4 per cent, according to Building Society Association figures.
Our friends at P2P Finance News bring us a report, excerpted below, that poses a question whose answer is so obvious it makes us smile (Hint: it's higher interest rates! But never forget security and access, as detailed below).
THE TREASURY Committee has announced plans to look into the level of savings among households and what would make them save more.
MPs in the select committee have unveiled an inquiry into household finances that will scrutinise problematic indebtedness, inter-generational issues, lifetime financial planning, and the effectiveness of the market in providing solutions and products to low income households.
The Committee will look at what the "right" level of savings is in the current economic conditions and how well products such as ISAs are targeted.
It will also assess whether the overall level of UK household debt and consumer credit is sustainable and how much of it is problematic.
Money&Co. brings individuals looking to get good return on capital with carefully vetted small businesses seeking funds to grow. More loan offerings, in addition to the current A-rated offer with its fixed-rate 8 per cent yield, will arrive on site shortly. In addition to new loan offerings, our secondary loan market, offering existing loans for sale by lenders, is available to registered Money&Co. users.
All loans can be held, tax-free, in an Innovative Finance Individual Savings Account, or Innovative Finance ISA.
Risk: Security, Access, Yield
Do consider not just the return, but the security and the ease of access to your investment.We write regularly about these three key factors. Here's an earlier article on security, access and yield.
If you haven't made a loan via Money&Co. before, please read the risk warnings and the FAQ section. You may also wish to consult a financial adviser before making an investment. Capital is at risk, once loaned.